re: Ann: September 2010 Quarterly production ... Have a good look at the quarterly. In particular have a good look at the "Cash flows related to operating activities"
At first glance it looks like AXM are making money but look again and the net operating cash flow is negative.
It appears that $1250 per ounce does not include development costs. Sure AXM might be well ahead in development of ore but it is still an ongoing cost. Without development they may well be able to mine for another 6 months but for a long term operation, it has to be include in ongoing production costs. If you don't develop your underground, you can't mine it, don't mine ore, don't produce gold.
If I was a significant holder I would be on the phone come Monday.
Don't take my word for it, do your own sums.
Even though I don't hold, I would like to see AXM turn this thing around after I have previously lost some money holding AXM.
re: Ann: September 2010 Quarterly production ... Have a good...
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